Surgical Clips Market Overview:

The global surgical clips market generated $4,849 million in 2017, and is projected to reach $7,322 million by 2025, growing at a CAGR of 5.2% from 2018 to 2025. Surgical clips are sterile medical devices used for rapid control of bleeding from blood vessels and arteries. These clips do not require to penetrate the blood vessels, and thus, are preferably used instead of staples for some surgical applications.

The surgical clips market is driven by the growth in number of surgical procedures across geographies with increase in awareness of clipping. Furthermore, surge in number of chronic diseases, and technological advancements in clipping are expected to boost the growth of the surgical clips market during the forecast period. However, complications associated with surgical clips such as migration of clips can impede the market growth.

The global surgical clips market is segmented based on type, material, surgery type, end user, and region. Based on type, the market is classified as ligating clips, aneurysm clips, and others, each of which are further sub-segmented as titanium, polymer, and others. According to the material type, the market is categorized as titanium, polymer, and others. Based on the surgery type, the market is segmented as automated surgery clips and manual surgery clips. According to end user, the market is divided into hospital & clinic and ambulatory surgery center. Based on region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment Review

Based on material type, the global surgical clips market is categorized into titanium, polymer, and others. At present, the titanium surgical clip segment is the major revenue generating segment owing to its advantages such as inertness, reliability, and cost effectiveness. In addition, the polymer surgical clips segment is expected to experience rapid growth, due to rise in demand for absorbable surgical clips and technological advancements in polymer clips.

According to type, the global surgical clips market is categorized as ligating clips, aneurysm clips, and others. Presently, the ligating clips segment dominates the global market, owing to rise in demand for ligating clips in the developing countries, and surge in use of these clips in robotic surgery. However, the demand for aneurysm surgical clips is also expected to increase during the forecast period, which makes it the fastest growing segment, owing to increase in prevalence of aneurysm, growth in awareness about aneurysm clipping, and improvement in diagnosis of aneurysm in the developing countries.

Asia-Pacific presents lucrative opportunities for the key players operating in the surgical clips market, owing to high population base, growth in awareness about surgical clips, development in healthcare infrastructure, and increase in demand for minimally invasive procedures. However, as insurance companies do not cover the entire material expenses of a surgery, it is estimated to hamper the market growth in Asia-Pacific.

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Surgical clips are clamped over the blood vessels to control the bleeding from nearby blood vessels or arteries. The adoption of surgical clips is expected to increase due to surge in the number of surgical procedures with rise in demand for surgical clipping in the developing countries.

The technological advancements in surgical clips and rise in prevalence of chronic diseases is projected to supplement the market growth during the forecast period. Major advantages associated with the surgical clips are greater flexibility as well as better clinical outcome and treatment convenience that boost the growth of the market. However, complications associated with the use of surgical clips such as, dislocation of the clips and stringent regulation for approval of these clips are expected to hinder the market growth.

North America is expected to remain dominant during the forecast period due to surge in use of surgical clips owing to presence of advanced healthcare facilities, and higher number of surgical procedures. In addition, Asia-Pacific and LAMEA are expected to offer lucrative opportunities to the key players during the forecast period due to developments in healthcare infrastructure with a rise in demand for advanced medical facilities.